Meaning Nature And Scope Of Financial Management PdfBy Egberto L. In and pdf 21.03.2021 at 13:54 6 min read
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- Financial Management: Meaning, Nature and Scope
- Nature And Scope Of Financial Management
- THE NATURE, SCOPE AND PURPOSE OF FINANCIAL MANAGEMENT
Financial Management: Meaning, Nature and Scope
Finance is defined as the management of money and includes activities like investing, borrowing, lending, budgeting, saving, and forecasting. They do that by borrowing, selling stock, or using money they have earned. Factors Affecting Investment Decision. The Financing Decision. Factors Affecting Financing Decision. The Dividend Decision.
Nature And Scope Of Financial Management
Financial management may be defined as the area or function in an organization which is concerned with profitability, expenses, cash and credit, so that the "organization may have the means to carry out its objective as satisfactorily as possible;"  the latter often defined as maximizing the value of the firm for stockholders. Financial managers  FM are specialized professionals directly reporting to senior management , often the financial director FD ; the function is seen as 'Staff' , and not 'Line'. The function also entails the efficient and effective day-to-day management of funds, and thus overlaps treasury management. It is also involved with long term strategic financial management , focused on i. Two areas of finance directly overlap financial management: i Managerial finance is the academic branch of finance concerned with the managerial significance of financial techniques; ii Corporate finance is mainly concerned with the longer term capital budgeting, and typically is more relevant to large corporations.
Financial management is management principles and practices applied to finance. General management functions include planning, execution and control. Financial decision making includes decisions as to size of investment, sources of capital, extent of use of different sources of capital and extent of retention of profit or dividend payout ratio. Howard and Upton define financial management as "that administrative area or set of administrative functions in an organisation which have to do with the management of the flow of cash so that the organisation will have the means to carry out its objectives as satisfactorily as possible and at the same time meets its obligations as they become due. Bonneville and Dewey interpret that financing consists in the raising, providing and managing all the money, capital or funds of any kind to be used in connection with the business. Considering all these views, financial management may be defined as that part of management which is concerned mainly with raising funds in the most economic and suitable manner, using these funds as profitably as possible.
THE NATURE, SCOPE AND PURPOSE OF FINANCIAL MANAGEMENT
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Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise. Investment decisions includes investment in fixed assets called as capital budgeting. Investment in current assets are also a part of investment decisions called as working capital decisions. Financial decisions - They relate to the raising of finance from various resources which will depend upon decision on type of source, period of financing, cost of financing and the returns thereby.
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Financial Management means applying management principles to manage the financial resources of an organization. The finance manager is required to decide the proper capital structure of an organization deciding the optimum mix of debt and equity for raising required funds.